coin-img-ETHETH+1.65%coin-img-BTCBTC+0.12%coin-img-SOLSOL+0.85%coin-img-XRPXRP+0.78%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE-1.77%coin-img-ULTIMAULTIMA+1.32%coin-img-POKEEPOKEE+1.42%coin-img-ETHETH+1.65%coin-img-BTCBTC+0.12%coin-img-SOLSOL+0.85%coin-img-XRPXRP+0.78%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE-1.77%coin-img-ULTIMAULTIMA+1.32%coin-img-POKEEPOKEE+1.42%coin-img-ETHETH+1.65%coin-img-BTCBTC+0.12%coin-img-SOLSOL+0.85%coin-img-XRPXRP+0.78%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE-1.77%coin-img-ULTIMAULTIMA+1.32%coin-img-POKEEPOKEE+1.42%coin-img-ETHETH+1.65%coin-img-BTCBTC+0.12%coin-img-SOLSOL+0.85%coin-img-XRPXRP+0.78%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE-1.77%coin-img-ULTIMAULTIMA+1.32%coin-img-POKEEPOKEE+1.42%
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Scott Matherson

Extreme Bitcoin Short Positions Return To August 2024 Levels As Funding Turns Deeply Negative

Bitcoin's latest price drop has coincided with a sharp rise in bearish bets, as Santiment's on-chain data shows aggregated funding rates sliding to notably negative levels. This extreme short positioning, last seen in August 2024 before a major multi-month rebound, indicates that a large share of derivatives traders are positioned for further downside. With Bitcoin trading around $68,740 and funding below -0.01%, any move above key resistance zones such as $75,000 could trigger a short squeeze, though a rapid recovery is not guaranteed.
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